Registrations for new vehicles fell 40 percent in October compared to the same month in 2013, according to the latest study by commercial sellers' group ACARA.

The chamber revealed that 52,983 cars were registered over the past month, against 59,099 in September and 88,948 last October.

"October showed a good level of activity but much highers would have been reached if the vehicles already approved by the Procrear (accessible credit) plan had been registered," the entity explained in a press statement.

Registrations for the first 10 months of the year total 614,634, down 27 percent in relation to the same period of 2013. The industry put 844,160 vehicles on the road during that timeframe, in what was a record year for the automotive sector.